How to Get the Resale Value of Appliances

by Lorna Hordos

Selling your old appliances can help to finance your new ones.

When selling used appliances, there are many variables that go into setting an accurate resale value. Before you list your stove, dishwasher or washing machine, for sale evaluate the machine and compare it to similar models. Then, with some basic math and negotiation preparedness, you’ll be ready to both get a good price and give the buyer fair value for his money.

Honest Evaluation

Before advertising a used fridge or washing machine for sale, for example, make an honest evaluation of the appliance. If it’s dented or scratched, say so and include close-up pictures of the damage when listing it for sale. If the stove has a burnt-out element; either replace the burner before selling the stove or be honest about the working condition, and price it accordingly. Along the same lines, if an appliance has only been used a handful of times, tout that as well. Honesty is always the best policy, no matter what you’re selling.

Comparisons

Comparing appliances requires an “apples-to-apples” approach. Just as you wouldn’t compare a rusty station wagon to a gleaming Ferrari, you wouldn’t compare an old, budget-brand dishwasher that has only basic features to a newer, top-of-the-line model with all the bells and whistles. Enter your appliances' make and model into the search fields of online auctions and classified-ad websites, and look through local buy-and-sell papers and secondhand stores. Compare appliances that have similar condition, age and features to yours to get an idea of the price you can expect to ask.

Averaging

Because prices vary, you’ll need to gather many comparisons and calculate the overall average, if you want a fair value. Calculating an average is quite simple. As a basic example, when you’ve gathered comparison prices of $55, $70 and $100 for three secondhand dishwashers similar to the one you want to sell, add the prices together, in this case the total is $225. Divide the total by the number of dishwashers, three, to get the average price asked. The average price that other people are asking for their dishwashers in this scenario is $75.

Pricing

Basically, the asking price is a starting point for negotiation. Before setting the price for a used appliance, determine the lowest price you are willing to accept. This way, when a buyer comes to look at your goods, you’ll be ready to accept or counteroffer his price. For a quick sale, it’s sometimes beneficial to state in your advertisement a rock-bottom, firm price, which is the lowest amount you’re willing to accept. That way, buyers know not to make an offer, but simply take it or leave it, so to speak. If looking for a quick sale, you may not want to bother finding the average price of comparable appliances and simply match the lowest price at which other people are listing similar items.

About the Author

Lorna Hordos is a business plan writer and contributor to SFGate, GlobalPost, Society6, ModernMom, Karolonia.com, Mindy Windy and other publications. Hordos also enjoys writing for children and has been featured on the cover of “Humpty Dumpty” magazine. Her background includes construction, design, staging, real estate investing, gardening, landscaping and childcare. She attended school in British Columbia where she owns a home-flipping business.

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